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General Obligation Bond

In the United States, a municipal bond in which the issuing locality pledges to use all revenues at its disposal to pay bondholders, including the raising of property taxes. Should a sufficient number of residents not pay their property taxes that it impacts revenue for bondholders, the terms of the bond legally require the municipality to raise property taxes to make up the shortfall. There are two basic types of general obligation bonds. A limited GO allows for the raising of property taxes up to a certain percentage, while an unlimited GO theoretically allows the municipality to levy taxes of up to 100% of a property's value. Because an unlimited GO provides a great incentive to pay property tax on time, and because many states only allow such a bond to be issued following a vote on the matter, credit ratings agencies usually rate them higher. However, both types of GO are generally rated highly.


To trade, especially at a given price. For example, one may say that a stock "goes" at $10, meaning that one may trade at its current share price of $10.


References in periodicals archive ?
I-GO, which currently has 600 members, opened in 2002 with the help of grant money allocated by the city's transportation department.
Today, I-GO officials also outlined plans to greatly expand service in upcoming months.
Launched in Spring 2002, I-GO is a not-for-profit membership program, which provides members access to a fleet of new 4-door energy-efficient vehicles at a fraction of the cost of owning a car.
I-GO, a membership-based organization, is ideal for families and
hours of use a month, is $1,890 for I-GO subscribers.